Calix (NYSE:CALX) Director Carl Russo Sells 75,000 Shares

Calix, Inc (NYSE:CALX) Director Carl Russo sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $36.20, for a total value of $2,715,000.00. Following the completion of the sale, the director owned 1,569,188 shares of the company’s stock, valued at $56,804,605.60. This trade represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Calix Price Performance

Shares of CALX stock traded up $0.25 on Tuesday, hitting $37.10. 991,472 shares of the stock traded hands, compared to its average volume of 1,145,317. The company’s fifty day moving average is $38.21 and its 200 day moving average is $45.87. Calix, Inc has a 1-year low of $34.26 and a 1-year high of $71.22. The company has a market capitalization of $2.34 billion, a PE ratio of 50.14 and a beta of 1.23.

Calix (NYSE:CALX) last released its quarterly earnings data on Monday, July 20th. The communications equipment provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Calix had a net margin of 4.61% and a return on equity of 6.17%. The firm had revenue of $293.33 million during the quarter, compared to the consensus estimate of $289.96 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis. Calix has set its Q3 2026 guidance at 0.370-0.450 EPS. As a group, equities research analysts expect that Calix, Inc will post 0.89 EPS for the current year.

Calix declared that its board has initiated a share buyback program on Tuesday, April 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Calix

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in shares of Calix by 63.0% during the fourth quarter. Farther Finance Advisors LLC now owns 551 shares of the communications equipment provider’s stock worth $29,000 after acquiring an additional 213 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Calix in the 2nd quarter valued at about $30,000. Harbor Investment Advisory LLC bought a new stake in Calix in the 2nd quarter valued at about $31,000. Caitong International Asset Management Co. Ltd boosted its stake in Calix by 24,733.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the communications equipment provider’s stock valued at $39,000 after purchasing an additional 742 shares during the period. Finally, Strive Financial Group LLC acquired a new position in Calix during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CALX. Wall Street Zen downgraded shares of Calix from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Needham & Company LLC cut their target price on shares of Calix from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Northland Securities upgraded Calix from a “market perform” rating to an “outperform” rating and set a $52.00 target price for the company in a research note on Tuesday, July 21st. Weiss Ratings upgraded Calix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Finally, Zacks Research lowered Calix from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.86.

About Calix

Calix, Inc is a provider of cloud and software platforms, systems, and services that enable broadband service providers to transform their networks and subscriber experiences. The company’s flagship Calix Cloud platform delivers real-time analytics, automation and intelligence designed to simplify network operations, improve service agility and drive revenue growth. Calix also offers a comprehensive suite of premises and access systems, including broadband access nodes, fiber-to-the-home optics and residential gateways under the GigaSpire brand.

Through its software-defined network architecture, Calix helps service providers virtualize key network functions and introduce new services with minimal capital expenditure.